Federated Kaufmann Correlations

FKKSX Fund

USD 46.49 0.63 1.37%

The current 90-days correlation between Federated Kaufmann Small and Federated Global Allocation is 0.76 (i.e., Poor diversification). The correlation of Federated Kaufmann is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Federated Kaufmann Correlation With Market

Very weak diversification

The correlation between Federated Kaufmann Small and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federated Kaufmann Small and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Federated Kaufmann Small. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Federated Mutual Fund

0.83	QKACX	Federated Mdt All	Pair Corr
0.81	QKBGX	Federated Mdt Balanced	Pair Corr
0.63	QLSGX	Federated Mdt Small	Pair Corr
0.61	QLSCX	Federated Mdt Small	Pair Corr
0.78	FSTKX	Federated Mdt Large	Pair Corr
0.78	FSTLX	Federated Mdt Large	Pair Corr
0.78	FSTRX	Federated Mdt Large	Pair Corr
0.62	PIUIX	Pnc International Equity	Pair Corr

Moving against Federated Mutual Fund

0.33	FULBX	Federated Ultrashort Bond	Pair Corr
0.32	FULAX	Federated Ultrashort Bond	Pair Corr
0.31	FULIX	Federated Ultrashort Bond	Pair Corr

Related Correlations Analysis

	FSBKX	FTRKX	FMXKX	FIGKX	QKACX
FSBKX		0.72	0.58	0.66	0.75	FSBKX
FTRKX	0.72		0.6	0.9	0.64	FTRKX
FMXKX	0.58	0.6		0.3	0.89	FMXKX
FIGKX	0.66	0.9	0.3		0.4	FIGKX
QKACX	0.75	0.64	0.89	0.4		QKACX
	FSBKX	FTRKX	FMXKX	FIGKX	QKACX

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Risk-Adjusted Indicators

There is a big difference between Federated Mutual Fund performing well and Federated Kaufmann Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Federated Kaufmann's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FSBKX	0.40	(0.01)	0.00	(0.06)	0.00	0.00	0.74	(0.87)	2.50
FTRKX	0.23	0.00	0.07	(0.01)	0.25	(0.27)	0.53	(0.43)	1.29
FMXKX	0.85	(0.19)	0.00	(0.30)	0.00	0.00	1.08	(1.60)	11.72
FIGKX	0.14	0.01	0.14	0.13	0.10	(0.20)	0.31	(0.21)	0.84
QKACX	0.80	(0.13)	0.00	(0.23)	0.00	0.00	1.34	(1.55)	8.05

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